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Is nuclear power regaining energy?

November 21, 2024
in Business
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Is nuclear power regaining energy?
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But nuclear development did not stop. In China, for example, there were 13 nuclear reactors in 2011. There are now 55, with another 23 under construction.

For Beijing, scrambling to meet rapidly growing electricity demand, nuclear had, and still has, a vital role to play.

Now interest in the sector seems to be growing elsewhere once again. This is partly because developed countries are hunting for ways to meet energy demand, while striving to meet emissions reduction targets under the Paris Agreement.

With 2024 projected to be the warmest year on record, the pressure to cut carbon emissions is mounting. A renewed focus on energy security, in the wake of Russia’s invasion of Ukraine, has also been a factor.

South Korea, for example, recently scrapped plans to phase out its large fleet of nuclear power stations over the next four decades – and will build more instead.

And France has reversed plans to reduce its own reliance on nuclear energy, which provides 70% of its electricity. Instead, it wants to build up to eight new reactors.

In addition, last week the US government reaffirmed at the United Nations Climate Change Conference, or Cop29, held in Azerbaijan, that it intends to triple nuclear power generation by 2050., external

The White House had originally pledged, external to do this on the side lines of last year’s conference, Cop28. A total of 31 countries , externalhave now agreed to try to triple their use of nuclear power by 2050, including the UK, France and Japan.

Also at Cop29, which ends on Friday, 22 November, the US and UK announced that they would collaborate, external to speed up the development of new nuclear power technology.

This follows after it was agreed in the final statement or “stocktake” of last year’s Cop28 that nuclear should be one of the zero or low emission technologies to be “accelerated” , externalto help combat climate change.

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